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19 October 2024 | 5 replies
Seller financing is very hard to get.Most seller has the intent of collecting all the money upfront for a new property.To entice the seller to accept a low down payment, agree to the purchase price without negotiating, cover the closing costs and if there are any commissions involved with brokers/agents.
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24 October 2024 | 139 replies
They are under the impression a contractor will be happy for the job .
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21 October 2024 | 59 replies
We don’t collect for taxes or insurance premiums at closing, because we don’t allow those to be escrowed on the program, which can ‘lighten’ the up-front expense, compared to conventional mortgages.
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14 October 2024 | 2 replies
, we are super blessed, it was not easy but it wasn't super hard either, and the tools here at BP are a VERY good resource to Analyse deals. thank you, guys.we are renting this property now to a wonderful family, they are super happy with the place, and we are collecting $1,200 P/M rent with over just over $500 in cash flow :) I just wanted to share to encourage new investors!!!!
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18 October 2024 | 0 replies
Would I be able to collect those seller credits, even after the purchase has been completed?
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18 October 2024 | 7 replies
Also, focus on 2 years of job/income stability.Class D Properties:Vacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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18 October 2024 | 2 replies
Request and review sample reports to ensure the collected data is useful and well-presented.
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17 October 2024 | 20 replies
Step away from the keyboard and go find a clue, no one's impressed.
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19 October 2024 | 30 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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18 October 2024 | 1 reply
Don't forget to factor for this - upon moveout, we reasonably expect to cashflow around $500/mo, which will allow us to maintain and hold for as long as possible to collect appreciation and yes some extra money toward the next investment.